Federal student loan benefits You have flexibility. Though any student loan—federal or private—is a legal agreement and must be paid back with interest, federal student loans generally offer more flexible options than private student loans.
For example, with federal student loans, the borrower can change their repayment options even after the loan has been disbursed sent to your school. You can make payments based on your salary. How to apply for federal student loans for college Applying for a federal student loan is free.
Free money tip Want to pay less for college? Federal student loans for graduate students Graduate students may qualify for aid from these federal student aid programs: The William D. Related topics. Other borrowing options Families often use other ways to borrow money for college like a home equity loan, personal loan, or tuition payment plan. Compare federal and private student loans Compare federal student loans vs private student loans. Department of Education, Federal Student Aid.
No additional interest is charged until money is sent to your school, so you can relax, knowing you've got the funds when you need them. It takes about 15 minutes to apply and get a credit decision. We send disburse the funds directly to the school. The process can take as few as 10 business days from application to disbursement. Whether you study online or on campus, you can borrow to cover the costs at a degree-granting institution, even if you're not a full or half-time student.
The loan's flexibility makes it a good choice for many situations:. Parents can help their students pay for college in two ways: they can cosign a Smart Option Student Loan or take out a Sallie Mae Parent Loan in their own name. These are separate loans with different features and interest rates, so parents should compare their loan options. When you apply, we look at your history of borrowing money and paying it back on time.
Lenders want to know how creditworthy, or responsible, you are with credit, before approving your student loan application. You and your cosigner will want to have your social security number, school information, amount needed remember, you can use it to pay for school-certified expenses for the entire year as well as your financial and employment information.
You or your cosigner may start the application, however should your cosigner not be with you, we can send along an email with a link to their section of the application so they can fill it in later. Apply for this loan. Variable rates:. Fixed rates:. Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate. Get the money you need, with options that put you in control.
Adding a cosigner can help Students are nearly 4x more likely to be approved with a cosigner. Choose the undergraduate student loan options that work for you. Applying for an undergraduate student loan is fast and easy.
Provide some basic info Give some details about yourself and your school. Tip for borrowers You can apply only once and get the money you need for the entire school year. Have questions or need help applying? Top undergraduate student loan questions. Do I need a cosigner? But if you took out a Sallie Mae loan before , it might have been a federal loan and is likely now serviced by Navient.
Sallie Mae stopped offering federal loans when the FFEL program ended in , but continued to service federal loans though Since then, Sallie Mae no longer services federal loans and provides only private student loans. Most student loans are federal.
All federal loan information is housed there. Sallie Mae currently offers private student loans for undergraduate, career training and graduate programs. It also provides parent loans and is one of the few lenders to offer loans to part-time students. Applying for a Sallie Mae loan requires a hard credit check.
0コメント